Price Target Changed • Jun 11
Price target increased by 7.1% to Mex$22.24 Up from Mex$20.77, the current price target is an average from 5 analysts. New target price is 126% above last closing price of Mex$9.84. Stock is up 16% over the past year. The company is forecast to post earnings per share of Mex$0.87 next year compared to a net loss per share of Mex$3.42 last year. New Risk • Apr 29
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 34% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 34% per year for the foreseeable future. Minor Risk Share price has been volatile over the past 3 months (5.3% average weekly change). Buy Or Sell Opportunity • Apr 11
Now 23% overvalued Over the last 90 days, the stock has fallen 2.5% to Mex$10.37. The fair value is estimated to be Mex$8.41, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 7.0% over the last 3 years. Earnings per share has grown by 10%. Announcement • Apr 09
Grupo Televisa, S.A.B. to Report Q1, 2026 Results on Apr 28, 2026 Grupo Televisa, S.A.B. announced that they will report Q1, 2026 results at 3:00 PM, Central Standard Time on Apr 28, 2026 Announcement • Apr 08
Grupo Televisa, S.A.B., Annual General Meeting, Apr 28, 2026 Grupo Televisa, S.A.B., Annual General Meeting, Apr 28, 2026. Location: av vasco de quiroga, no 2000 building d, third floor santa fe neighborhood, postal code 01210, mexico Mexico Reported Earnings • Apr 07
Full year 2025 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2025 results: Mex$3.29 loss per share (further deteriorated from Mex$3.06 loss in FY 2024). Revenue: Mex$58.9b (down 5.4% from FY 2024). Net loss: Mex$8.82b (loss widened 6.0% from FY 2024). Revenue exceeded analyst estimates by 1.4%. Earnings per share (EPS) missed analyst estimates. Revenue is expected to decline by 2.5% p.a. on average during the next 3 years, while revenues in the Telecom industry in South America are expected to grow by 5.7%. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has fallen by 20% per year, which means it is significantly lagging earnings. Announcement • Apr 03
Bernardo Gómez Martínez and Alfonso de Angoitia Noriega completed the acquisition of 22.2% stake in Grupo Televisa, S.A.B. (BMV:TLEVISA CPO) from Emilio Azcárraga. Bernardo Gómez Martínez and Alfonso de Angoitia Noriega executed an agreement to acquire 22.2% stake in Grupo Televisa, S.A.B. (BMV:TLEVISA CPO) from Emilio Azcárraga on January 5, 2026. Bernanrdo Gómez and Alfonso de Angoitia Noriega will purchase Grupo Televisa, S.A.B 26,332,332,804 Series A shares.
The closing of the abovementioned transaction is subject to the satisfaction of several conditions precedent that are customary in these type of transactions, including the authorization of the Mexican Antitrust Commission (Comisión Nacional Antimonopolio).
Bernardo Gómez Martínez and Alfonso de Angoitia Noriega completed the acquisition of 22.2% stake in Grupo Televisa, S.A.B. (BMV:TLEVISA CPO) from Emilio Azcárraga on April 1, 2026. Obtaining the clearance from the Mexican Antitrust Commission has been satisfied Reported Earnings • Feb 28
Full year 2025 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2025 results: Mex$3.29 loss per share (further deteriorated from Mex$3.06 loss in FY 2024). Revenue: Mex$58.9b (down 5.4% from FY 2024). Net loss: Mex$8.82b (loss widened 6.0% from FY 2024). Revenue exceeded analyst estimates by 1.4%. Earnings per share (EPS) missed analyst estimates. Revenue is expected to decline by 2.6% p.a. on average during the next 3 years, while revenues in the Telecom industry in South America are expected to grow by 6.8%. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has fallen by 19% per year, which means it is significantly lagging earnings. Announcement • Feb 04
Grupo Televisa, S.A.B. to Report Q4, 2025 Results on Feb 26, 2026 Grupo Televisa, S.A.B. announced that they will report Q4, 2025 results After-Market on Feb 26, 2026 New Risk • Dec 20
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Mexican stocks, typically moving 6.2% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (0.1x net interest cover). Share price has been highly volatile over the past 3 months (6.2% average weekly change). Minor Risk Paying a dividend despite being loss-making. Price Target Changed • Nov 13
Price target increased by 7.3% to Mex$19.30 Up from Mex$17.99, the current price target is an average from 6 analysts. New target price is 75% above last closing price of Mex$11.05. Stock is up 25% over the past year. The company is forecast to post a net loss per share of Mex$0.34 next year compared to a net loss per share of Mex$3.06 last year. Major Estimate Revision • Nov 07
Consensus EPS estimates fall by 14% The consensus outlook for fiscal year 2025 has been updated. 2025 expected loss increased from -Mex$0.338 to -Mex$0.386 per share. Revenue forecast unchanged at Mex$58.8b. Media industry in Mexico expected to see average net income growth of 26% next year. Consensus price target broadly unchanged at Mex$18.13. Share price rose 6.9% to Mex$10.35 over the past week. Major Estimate Revision • Oct 31
Consensus EPS estimates fall by 140% The consensus outlook for fiscal year 2025 has been updated. 2025 expected loss increased from -Mex$0.141 to -Mex$0.338 per share. Revenue forecast unchanged at Mex$58.8b. Media industry in Mexico expected to see average net income growth of 26% next year. Consensus price target down from Mex$18.43 to Mex$11.82. Share price rose 11% to Mex$9.86 over the past week. Price Target Changed • Oct 29
Price target decreased by 36% to Mex$11.82 Down from Mex$18.43, the current price target is an average from 6 analysts. New target price is 18% above last closing price of Mex$10.04. Stock is up 1.4% over the past year. The company is forecast to post a net loss per share of Mex$0.34 next year compared to a net loss per share of Mex$3.06 last year. New Risk • Oct 27
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 0.1x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (0.1x net interest cover). Share price has been highly volatile over the past 3 months (6.8% average weekly change). Minor Risk Paying a dividend despite being loss-making. Reported Earnings • Oct 24
Third quarter 2025 earnings: EPS misses analyst expectations Third quarter 2025 results: Mex$0.72 loss per share (down from Mex$0.25 profit in 3Q 2024). Revenue: Mex$14.6b (down 4.8% from 3Q 2024). Net loss: Mex$1.93b (down 390% from profit in 3Q 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates. Revenue is expected to decline by 1.8% p.a. on average during the next 3 years, while revenues in the Global Media industry are expected to grow by 4.2%. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has fallen by 25% per year, which means it is performing significantly worse than earnings. Announcement • Oct 02
Grupo Televisa, S.A.B. to Report Q3, 2025 Results on Oct 23, 2025 Grupo Televisa, S.A.B. announced that they will report Q3, 2025 results After-Market on Oct 23, 2025 Buy Or Sell Opportunity • Sep 02
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 36% to Mex$10.55. The fair value is estimated to be Mex$8.72, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 7.5% over the last 3 years. Meanwhile, the company became loss making. Revenue is forecast to decline by 2.6% in a year. Earnings are forecast to grow by 89% in the next year. Buy Or Sell Opportunity • Aug 13
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 11% to Mex$8.82. The fair value is estimated to be Mex$7.33, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 7.5% over the last 3 years. Meanwhile, the company became loss making. Revenue is forecast to decline by 2.3% in a year. Earnings are forecast to grow by 83% in the next year. Major Estimate Revision • Aug 11
Consensus EPS estimates upgraded to Mex$0.21 loss The consensus outlook for fiscal year 2025 has been updated. 2025 losses forecast to reduce from -Mex$0.262 to -Mex$0.209 per share. Revenue forecast steady at Mex$59.4b. Media industry in Mexico expected to see average net income growth of 25% next year. Consensus price target broadly unchanged at Mex$18.18. Share price fell 8.0% to Mex$8.91 over the past week. New Risk • Jul 26
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 0.005x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (0.005x net interest cover). Share price has been highly volatile over the past 3 months (5.9% average weekly change). Minor Risk Paying a dividend despite being loss-making. Reported Earnings • Jul 25
Second quarter 2025 earnings: EPS exceeds analyst expectations while revenues lag behind Second quarter 2025 results: EPS: Mex$0.18 (up from Mex$0.009 loss in 2Q 2024). Revenue: Mex$14.7b (down 6.3% from 2Q 2024). Net income: Mex$474.5m (up Mex$500.1m from 2Q 2024). Profit margin: 3.2% (up from net loss in 2Q 2024). Revenue missed analyst estimates by 1.2%. Earnings per share (EPS) exceeded analyst estimates. Revenue is expected to decline by 1.7% p.a. on average during the next 3 years, while revenues in the Global Media industry are expected to grow by 3.8%. Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has fallen by 35% per year, which means it is performing significantly worse than earnings. Major Estimate Revision • Jul 24
Consensus estimates of losses per share improve by 60% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has improved. 2025 revenue forecast increased from Mex$59.3b to Mex$60.1b. EPS estimate increased from -Mex$0.593 per share to -Mex$0.24 per share. Media industry in Mexico expected to see average net income growth of 24% next year. Consensus price target down from Mex$17.94 to Mex$12.79. Share price rose 13% to Mex$8.94 over the past week. Buy Or Sell Opportunity • Jul 22
Now 26% overvalued after recent price rise Over the last 90 days, the stock has risen 15% to Mex$8.78. The fair value is estimated to be Mex$7.00, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 5.4% over the last 3 years. Earnings per share has declined by 28%. Revenue is forecast to decline by 4.5% in 2 years. Earnings are forecast to grow by 96% in the next 2 years. Major Estimate Revision • Jul 16
Consensus EPS estimates fall by 14% The consensus outlook for fiscal year 2025 has been updated. 2025 expected loss increased from -Mex$0.519 to -Mex$0.593 per share. Revenue forecast unchanged at Mex$59.3b. Media industry in Mexico expected to see average net income growth of 23% next year. Consensus price target broadly unchanged at Mex$17.94. Share price fell 2.5% to Mex$8.10 over the past week. Announcement • Jul 03
Grupo Televisa, S.A.B. to Report Q2, 2025 Results on Jul 22, 2025 Grupo Televisa, S.A.B. announced that they will report Q2, 2025 results After-Market on Jul 22, 2025 Buy Or Sell Opportunity • Jul 01
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 17% to Mex$8.51. The fair value is estimated to be Mex$7.00, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 5.4% over the last 3 years. Earnings per share has declined by 28%. For the next 3 years, revenue is forecast to decline by 1.5% per annum. Earnings are forecast to grow by 67% per annum over the same time period. Buy Or Sell Opportunity • Jun 12
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 20% to Mex$8.49. The fair value is estimated to be Mex$7.02, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 5.4% over the last 3 years. Earnings per share has declined by 28%. For the next 3 years, revenue is forecast to decline by 1.5% per annum. Earnings are forecast to grow by 67% per annum over the same time period. Upcoming Dividend • May 23
Upcoming dividend of Mex$0.35 per share Eligible shareholders must have bought the stock before 30 May 2025. Payment date: 02 June 2025. The company is not currently making a profit but it is cash flow positive. Trailing yield: 4.4%. Lower than top quartile of Mexican dividend payers (5.9%). In line with average of industry peers (4.8%). Major Estimate Revision • May 22
Consensus EPS estimates upgraded to Mex$0.61 loss The consensus outlook for fiscal year 2025 has been updated. 2025 losses forecast to reduce from -Mex$0.916 to -Mex$0.613 per share. Revenue forecast steady at Mex$59.9b. Media industry in Mexico expected to see average net income growth of 24% next year. Consensus price target broadly unchanged at Mex$17.85. Share price was steady at Mex$8.00 over the past week. Declared Dividend • May 08
Dividend of Mex$0.35 announced Dividend of Mex$0.35 is the same as last year. Ex-date: 29th May 2025 Payment date: 31st May 2025 Dividend yield will be 4.9%, which is higher than the industry average of 3.1%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months. However, the dividend is well covered by cash flows (4% cash payout ratio). The dividend has not increased over the past 10 years but has been stable with no material reductions to payments, indicating a long track record of dividend stability. Announcement • May 06
Grupo Televisa, S.A.B. announces Annual dividend, payable on May 31, 2025 Grupo Televisa, S.A.B. announced Annual dividend of MXN 0.3500 per share payable on May 31, 2025, ex-date on May 29, 2025 and record date on May 29, 2025. Price Target Changed • May 02
Price target increased by 27% to Mex$22.93 Up from Mex$17.99, the current price target is an average from 9 analysts. New target price is 228% above last closing price of Mex$7.00. Stock is down 35% over the past year. The company is forecast to post a net loss per share of Mex$1.78 next year compared to a net loss per share of Mex$3.06 last year. Major Estimate Revision • Apr 22
Consensus EPS estimates fall by 11% The consensus outlook for fiscal year 2025 has been updated. 2025 expected loss increased from -Mex$0.74 to -Mex$0.823 per share. Revenue forecast unchanged at Mex$60.3b. Media industry in Mexico expected to see average net income growth of 20% next year. Consensus price target broadly unchanged at Mex$17.84. Share price rose 5.2% to Mex$7.33 over the past week. Announcement • Apr 09
Grupo Televisa, S.A.B. to Report Q1, 2025 Results on Apr 29, 2025 Grupo Televisa, S.A.B. announced that they will report Q1, 2025 results After-Market on Apr 29, 2025 Announcement • Apr 07
Grupo Televisa, S.A.B., Annual General Meeting, Apr 29, 2025 Grupo Televisa, S.A.B., Annual General Meeting, Apr 29, 2025. Location: av vasco de quiroga, no 2000 building d, third floor santa fe neighborhood, postal code 01210, mexico Mexico Reported Earnings • Apr 07
Full year 2024 earnings: EPS and revenues miss analyst expectations Full year 2024 results: Mex$3.06 loss per share (improved from Mex$3.23 loss in FY 2023). Revenue: Mex$62.3b (down 6.0% from FY 2023). Net loss: Mex$8.32b (loss narrowed 8.0% from FY 2023). Revenue missed analyst estimates by 1.4%. Earnings per share (EPS) were also behind analyst expectations. Revenue is forecast to stay flat during the next 3 years compared to a 3.9% growth forecast for the Global Media industry. Over the last 3 years on average, earnings per share has fallen by 39% per year but the company’s share price has fallen by 46% per year, which means it is performing significantly worse than earnings. Announcement • Mar 24
Grupo Televisa, S.A.B.(BMV:TLEVISA CPO) dropped from FTSE All-World Index (USD) Grupo Televisa, S.A.B.(BMV:TLEVISA CPO) dropped from FTSE All-World Index (USD) New Risk • Mar 20
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Mexican stocks, typically moving 5.7% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks High level of debt (50% net debt to equity). Paying a dividend despite being loss-making. Share price has been volatile over the past 3 months (5.7% average weekly change). Major Estimate Revision • Feb 27
Consensus EPS estimates fall by 136% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from Mex$62.0b to Mex$60.5b. Losses expected to increase from Mex$0.31 per share to Mex$0.74. Media industry in Mexico expected to see average net income growth of 16% next year. Consensus price target broadly unchanged at Mex$18.03. Share price fell 5.8% to Mex$7.79 over the past week. Reported Earnings • Feb 21
Full year 2024 earnings: EPS and revenues miss analyst expectations Full year 2024 results: Mex$3.05 loss per share. Revenue: Mex$62.3b (down 16% from FY 2023). Net loss: Mex$8.30b (loss narrowed 1.4% from FY 2023). Revenue missed analyst estimates by 1.4%. Earnings per share (EPS) were also behind analyst expectations. Revenue is forecast to stay flat during the next 3 years compared to a 3.9% growth forecast for the Global Media industry. Price Target Changed • Feb 07
Price target decreased by 8.1% to Mex$18.03 Down from Mex$19.61, the current price target is an average from 8 analysts. New target price is 124% above last closing price of Mex$8.04. Stock is down 21% over the past year. The company is forecast to post earnings per share of Mex$0.18 next year compared to a net loss per share of Mex$3.01 last year. Announcement • Jan 31
Grupo Televisa, S.A.B. to Report Q4, 2024 Results on Feb 20, 2025 Grupo Televisa, S.A.B. announced that they will report Q4, 2024 results After-Market on Feb 20, 2025 Reported Earnings • Oct 25
Third quarter 2024 earnings: EPS exceeds analyst expectations while revenues lag behind Third quarter 2024 results: EPS: Mex$0.25 (up from Mex$0.33 loss in 3Q 2023). Revenue: Mex$15.4b (down 16% from 3Q 2023). Net income: Mex$666.5m (up Mex$1.59b from 3Q 2023). Profit margin: 4.3% (up from net loss in 3Q 2023). Revenue missed analyst estimates by 2.7%. Earnings per share (EPS) exceeded analyst estimates by 163%. Revenue is expected to decline by 2.3% p.a. on average during the next 3 years, while revenues in the Global Media industry are expected to grow by 4.3%. Over the last 3 years on average, earnings per share has fallen by 53% per year but the company’s share price has only fallen by 41% per year, which means it has not declined as severely as earnings. Announcement • Oct 09
Grupo Televisa, S.A.B. to Report Q3, 2024 Results on Oct 24, 2024 Grupo Televisa, S.A.B. announced that they will report Q3, 2024 results After-Market on Oct 24, 2024 Buy Or Sell Opportunity • Oct 02
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 6.4% to Mex$10.32. The fair value is estimated to be Mex$8.54, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 4.8% over the last 3 years. Meanwhile, the company became loss making. New Risk • Aug 01
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 1.3x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (1.3x net interest cover). Minor Risk Paying a dividend despite being loss-making. Buy Or Sell Opportunity • Jul 25
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 23% to Mex$8.29. The fair value is estimated to be Mex$10.38, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 4.5% over the last 3 years. Meanwhile, the company became loss making. Announcement • Jul 04
Grupo Televisa, S.A.B. to Report Q2, 2024 Results on Jul 23, 2024 Grupo Televisa, S.A.B. announced that they will report Q2, 2024 results After-Market on Jul 23, 2024 Declared Dividend • May 22
Dividend of Mex$0.35 announced Shareholders will receive a dividend of Mex$0.35. Ex-date: 30th May 2024 Payment date: 31st May 2024 Dividend yield will be 8.4%, which is higher than the industry average of 3.1%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months. However, the dividend is well covered by cash flows (18% cash payout ratio). The dividend has not increased over the past 10 years but has been stable with no material reductions to payments, indicating a long track record of dividend stability. Price Target Changed • Apr 17
Price target decreased by 10% to Mex$15.84 Down from Mex$17.61, the current price target is an average from 8 analysts. New target price is 53% above last closing price of Mex$10.33. The company is forecast to post earnings per share of Mex$0.75 next year compared to a net loss per share of Mex$3.01 last year. Reported Earnings • Apr 15
Full year 2023 earnings: EPS misses analyst expectations Full year 2023 results: Mex$3.01 loss per share (improved from Mex$4.07 loss in FY 2022). Revenue: Mex$73.8b (down 2.3% from FY 2022). Net loss: Mex$8.42b (loss narrowed 27% from FY 2022). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates. Revenue is expected to decline by 1.2% p.a. on average during the next 3 years, while revenues in the Global Media industry are expected to grow by 4.9%. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 41 percentage points per year, which is a significant difference in performance. Announcement • Apr 09
Grupo Televisa, S.A.B., Annual General Meeting, Apr 26, 2024 Grupo Televisa, S.A.B., Annual General Meeting, Apr 26, 2024. Agenda: To consider and approve the report on the operations and activities in which the Board of Directors intervened during the 2023 fiscal year; to consider and approve the Audit Committee's annual report; to consider and approve the Corporate Practices Committee's annual report; to consider and approve the report regarding certain fiscal obligations of the Company pursuant to the applicable legislation; and to consider and approve any other matters. Announcement • Apr 04
Grupo Televisa, S.A.B. (BMV:TLEVISA CPO) entered into agreement to acquire remaining unknown stake in Sky Mexico from AT&T Inc. (NYSE:T). Grupo Televisa, S.A.B. (BMV:TLEVISA CPO) entered into agreement to acquire remaining unknown stake in Sky Mexico from AT&T Inc. (NYSE:T) on April 3, 2024. With this acquisition, Grupo Televisa would become 100% owner of Sky Mexico. The transaction is subject to regulatory approvals. The transaction price would be paid by the Grupo Televisa in 2027 and 2028. Luis Malvido will step down as Chief Executive Officer of Sky on April 15, 2024. Francisco Valim will take over as CEO of Sky and will remain as CEO of Grupo Televisa’s Cable segment (izzi). Reported Earnings • Feb 25
Full year 2023 earnings: EPS misses analyst expectations Full year 2023 results: Mex$3.66 loss per share (improved from Mex$4.07 loss in FY 2022). Revenue: Mex$73.8b (down 2.3% from FY 2022). Net loss: Mex$10.2b (loss narrowed 11% from FY 2022). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates. Revenue is forecast to grow 1.2% p.a. on average during the next 3 years, compared to a 5.3% growth forecast for the Global Media industry. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 55 percentage points per year, which is a significant difference in performance. New Risk • Feb 24
New major risk - Revenue and earnings growth Earnings have declined by 54% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (0.8x net interest cover). Share price has been highly volatile over the past 3 months (7.6% average weekly change). Earnings have declined by 54% per year over the past 5 years. Minor Risk Paying a dividend despite being loss-making. Announcement • Feb 22
Grupo Televisa, S.A.B. completed the Spin-Off of Some businesses of Grupo Televisa, S.A.B. The board of Grupo Televisa, S.A.B. (BMV:TLEVISA CPO) approved to spin-off Some businesses on October 27, 2022. As per the record date of February 19, 2024, shareholders will receive 1 share of Ollamani for every 20 shares held in Grupo Televisa, S.A.B. The spin-off businesses includes its futbol operations, the Estadio Azteca, the gaming and sports operations, and publishing and distribution of magazines, as well as certain related assets and real estate. The spin-off business controlling entity will be listed on Mexican Stock Exchange and that would have the same shareholding structure of Televisa. The transaction is approved by the board of Grupo Televisa and subject to several conditions, including compliance with applicable law, as well as obtaining all required corporate and regulatory authorizations, and the approval of the spin-off by Grupo Televisa's shareholders meeting. As of April 26, 2023, Grupo Televisa conducted a Extraordinary General Stockholders' Meeting and shareholders has approved the transaction. The transaction is expected to complete in the first half of next year. As of January 26, 2024, a spin off company will be constituted to be named Ollamani, S.A.B. The transaction is expected to close on February 20, 2024.
The board of Grupo Televisa, S.A.B. (BMV:TLEVISA CPO) completed the spin-off of Some businesses on February 20, 2024. Announcement • Feb 09
Grupo Televisa, S.A.B. to Report Q4, 2023 Results on Feb 22, 2024 Grupo Televisa, S.A.B. announced that they will report Q4, 2023 results After-Market on Feb 22, 2024 Major Estimate Revision • Feb 01
Consensus EPS estimates fall by 14% The consensus outlook for fiscal year 2023 has been updated. 2023 expected loss increased from -Mex$0.651 to -Mex$0.743 per share. Revenue forecast unchanged at Mex$73.8b. Media industry in Mexico expected to see average net income growth of 19% next year. Consensus price target of Mex$20.17 unchanged from last update. Share price rose 2.4% to Mex$10.38 over the past week. Price Target Changed • Jan 17
Price target decreased by 9.0% to Mex$20.17 Down from Mex$22.17, the current price target is an average from 9 analysts. New target price is 116% above last closing price of Mex$9.34. Stock is down 57% over the past year. The company is forecast to post a net loss per share of Mex$0.65 next year compared to a net loss per share of Mex$4.07 last year. Major Estimate Revision • Jan 11
Consensus EPS estimates upgraded to Mex$0.57 loss The consensus outlook for fiscal year 2023 has been updated. 2023 losses forecast to reduce from -Mex$0.652 to -Mex$0.573 per share. Revenue forecast steady at Mex$74.1b. Media industry in Mexico expected to see average net income growth of 20% next year. Consensus price target reaffirmed at Mex$22.17. Share price fell 10% to Mex$9.73 over the past week. New Risk • Nov 04
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Mexican stocks, typically moving 6.4% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (0.7x net interest cover). Share price has been highly volatile over the past 3 months (6.4% average weekly change). Minor Risk Paying a dividend despite being loss-making. Major Estimate Revision • Nov 02
Consensus EPS estimates fall by 34% The consensus outlook for fiscal year 2023 has been updated. 2023 expected loss increased from -Mex$0.487 to -Mex$0.652 per share. Revenue forecast unchanged at Mex$74.4b. Media industry in Mexico expected to see average net income growth of 17% next year. Consensus price target broadly unchanged at Mex$21.40. Share price fell 3.0% to Mex$8.27 over the past week. Reported Earnings • Oct 28
Third quarter 2023 earnings: EPS misses analyst expectations Third quarter 2023 results: Mex$0.33 loss per share (down from Mex$0.14 profit in 3Q 2022). Revenue: Mex$18.3b (down 4.9% from 3Q 2022). Net loss: Mex$918.5m (down 342% from profit in 3Q 2022). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 17%. Revenue is forecast to grow 1.1% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Media industry in South America. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 48 percentage points per year, which is a significant difference in performance. New Risk • Oct 27
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 0.4x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (0.4x net interest cover). Minor Risks Paying a dividend despite being loss-making. Share price has been volatile over the past 3 months (5.9% average weekly change). Major Estimate Revision • Oct 21
Consensus EPS estimates fall by 30% The consensus outlook for fiscal year 2023 has been updated. 2023 expected loss increased from -Mex$0.375 to -Mex$0.487 per share. Revenue forecast unchanged at Mex$74.5b. Media industry in Mexico expected to see average net income growth of 17% next year. Consensus price target down from Mex$24.13 to Mex$21.81. Share price fell 13% to Mex$8.64 over the past week. Price Target Changed • Oct 20
Price target decreased by 10% to Mex$21.81 Down from Mex$24.33, the current price target is an average from 8 analysts. New target price is 149% above last closing price of Mex$8.76. Stock is down 59% over the past year. The company is forecast to post a net loss per share of Mex$0.49 next year compared to a net loss per share of Mex$4.07 last year. Price Target Changed • Oct 13
Price target decreased by 7.6% to Mex$22.94 Down from Mex$24.83, the current price target is an average from 8 analysts. New target price is 121% above last closing price of Mex$10.37. Stock is down 49% over the past year. The company is forecast to post a net loss per share of Mex$0.58 next year compared to a net loss per share of Mex$4.07 last year. Announcement • Oct 13
Grupo Televisa, S.A.B. to Report Q3, 2023 Results on Oct 26, 2023 Grupo Televisa, S.A.B. announced that they will report Q3, 2023 results After-Market on Oct 26, 2023 
